Fight for younger clients weighs on IP insurers

The take-up rate of IPs among the Singaporean population aged one to 50 is more than 70 per cent in each age band. But the take-up of IPs for those above 50 - those who need coverage more - falls significantly within the different older age bands.

FILE PHOTO

Singapore

EVEN as the six Integrated Shield Plan (IP) insurers struggle to keep a lid on rising medical claims, they are besieged with an equally worrying problem - the brutal rivalry to attract new and younger clients from an increasingly shrinking pool of healthy and available consumers